401(k)

State plans will encourage more retirement saving by workers who could later roll over assets to private plans, a CalSavers official says.

Expect clients to take steps, such as maximizing automatic services, that will encourage positive behaviors to help individuals reach their financial goals.

CalSavers program argues that state plans will encourage more workers to save for retirement.

Retirement plans may decline to offer delayed RMDs, plan loans, stretch and hardship distributions and a host of other legally sanctioned tax maneuvers.

Expect employers to take steps, such as maximizing automatic services, that will encourage positive behaviors to help individuals reach their financial goals.

The cap on state and local tax deduction under the tax law may prompt more employees to direct their retirement savings to their 401(k)s than to build home equity.

Retirees who opt to file at a much later date can earn delayed retirement credits that could boost their benefits by as much as 32%.

It would raise enough new revenue to more than restore long-term balance of the program.

Lawmakers and policymakers should make retirement savings plans universally available if they want to help Americans secure their golden years.

One tip for seniors: They should register their My Social Security account as early as they can before other people can create the account.